By Dan Bell
The NZD/USD opens at 0.76 after trading to a high of 0.7645 overnight.
A quiet night across most markets with the US, Germany and France closed for public holidays.
Spanish 10-year bond yields rose 19 basis points to as high as 6.53% their highest since November 2011 before the European Central Bank injected cheap 3 year loans into the banking system.
Spanish sovereign bonds came under pressure after the government announced a €19 billion bailout of Bankia SA-Spain's third-largest lender by assets.
The announcement late Friday, effectively nationalizing Bankia, raised concern the government may need to support other struggling banks.
The NZD is relatively unchanged against the major cross rates and opens at 0.7724 AUD, 0.6064 EUR, 0.4847 GBP and 60.40 JPY.
Not much to report on the local front. US Consumer Confidence tonight will be of interest.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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